A REVIEW OF THE BUSINESS FACILITATION (MISCELLANEOUS PROVISIONS) ACT 2023

INTRODUCTION

The Business Facilitation Act (“Act”) was signed into law by President Muhammad Buhari on Wednesday, February 8, 2023 as a legislation geared to ensure a business-friendly and inclusive environment as well as limit bureaucratic bottlenecks in Ministries, Department and other Agencies. The Act establishes a framework for the ease of doing business, ensure transparency, efficiency and productivity in Nigeria and related matters.

This briefing note systematically considers the provisions of the Act with a view to assessing its operationality. We have highlighted some of the key provisions of the Act.